In the early 20th century, the village was a Norwegian whaling station.

[2] There is an automatic weather station called Dalatangi[3] near Mjóifjörður.

It is very humid throughout the year, with the average precipitation greater than 100 millimetres (3.9 in) in every month except June, and October being the wettest month with an average precipitation of 205.3 millimetres (8.08 in).

Mjóafjarðarkirkja, a wooden church in the hamlet Brekka, was built in 1892 with about 100 seats and a ridge turret.

[6] Mjóifjörður has a primary school, a camping site and a hotel with a café.